Card Security Specialist

Overview

The Card Security Specialist is responsible for performing extensive analysis, research and exercise sound judgment surrounding unusual transactions. Appropriately balance protecting the Credit Union and the members while achieving member satisfaction. Build lifetime quality financial relationships with each member by providing competitive products and excellent service.

Specific duties include, but are not limited to, the following:

• Ensure daily monitoring of debit and credit transactions, as well as, conducting in depth investigations of potentially suspicious activity.
• Responsible for evaluating and controlling the potential fraud risk of the Visa debit, credit and ATM cards.
• Develop appropriate tactical fraud loss mitigation strategies by utilizing various systems, methods, and reports to detect, prevent, and track fraud activity on transactions.
• Research, review and analyze incoming transactions and disputes to determine potential fraud mitigation rules to enable.
• Test any proposed new rules to determine impact on existing members.
• Recommend and establish decision-making parameters through various software applications such as Risk Service Manager (RSM), Falcon, Verafin, and Episys to implement fraud loss mitigation strategies.
• Coordinate and interact with vendors (Visa Risk Manager and Velera EFS) to monitor fraud activity, rule performance and reduce member friction when transacting via card.
• Incorporate varied information and data through the applications of statistical analysis, quantitative research, and ad hoc reports. This is critical to ensure effective loss mitigation while ensuring members are not overly inconvenienced.
• Assist in the development of strategic loss mitigation strategies by utilizing innovative and proactive analysis to distinguish fraud trends related to compromised account information and provide recommendations for new methods of fraud detection and prevention.
• Fraud Risk Monitoring of several different software applications to include but not limited to Risk Service Manager (RSM), Episys Online Blocking Parameters, and Verafin.
• Review and take action on suspicious activity received from Falcon, CAMs Alerts, Verafin and Fair Isaac.
• Review RSM daily activity to help identify and resolve fraud risk trends and issues.
• Recommend and apply risk management rules to help manage losses.
• Work with the Incident Response Team, Security and IT to manage CAMs alerts and Fair Isaac notifications.
• Coordinate risk mitigation efforts with other areas such as Incident Response Team, Security and Fraud, IT and Card Services Department as well as Dispute & Claims team.
• Assess fraud and card risk exposure.
• Make real time/on-line decisions through risk management systems justifying all recommendations.
• Prepare monthly reporting and communicate risk management results to the Incident Response Team.
• Continuously review and make changes to implemented strategies based on effectiveness and result of strategy.
• Work across business lines of multiple payment channels in addition to Card products (ACH, Zelle and ATM) for dispute processing and research
• Research and investigate 'Dark Web' card breaches identified to mitigate risk to members and prevent fraud
• Contact customers via the phone and email.
• Perform other related duties as requested and special projects as assigned.

• College degree or equivalent work experience.
• Minimum 4 years relevant experience with card services industry and Visa/debit regulations.
• Possess a sense of urgency. Effectively set priorities, allocates resources, takes accountability and achieves results.
• Ability to interpret and communicate data in a clear and comprehensible manner.
• Proficient in Microsoft Office Suite, particularly Word and Excel and Windows Applications.
• Active listening and analytical skills.
• Effective organizational, problem solving and multi-tasking skills.
• Excellent verbal and written skills are key for functioning.
• Ability to excel within a fast paced, demanding environment.
• Ability to perform in a high-volume environment and meet deadlines while maintaining exceptional attention to detail.